Two major retailers close doors
TWO major Coffs Harbour retail stores, operated by the same troubled company, have closed up shop after entering administration earlier this year and staging wind-down sales.
PwC, the administrator for Furniture and Bedding Concepts trading locally as Everyday Living and Sleep City has announced it has closed the two stores off Mastracolas Rd and as a consequence staff have been made redundant.
"As part of the orderly business wind-down we have made the difficult decision to close this store and as a consequence staff have been made redundant," partner of PwC Michael Fung said.
"PwC has been in touch with the Federal Government Department that deals with General Employee Entitlements and Redundancy Scheme (GEERS) and will assist the employees with their applications" Mr Fung said.
GEERS is a Federal Government payment scheme to assist employees who have lost their employment due to the liquidation or bankruptcy of their employer and who are owed certain employee entitlements.
It covers capped unpaid wages, annual and long service leave, payment in lieu of notice and capped redundancy pay.
PwC was appointed to handle the administration of Furniture and Bedding Concepts Ltd. and four other related entities on Monday , February 13.
The companies included in the administration are: Furniture and Bedding Concepts Ltd, Everyday Sleep Trading Pty Ltd, Uinta Beds Pty Limited, SDM Marketing Pty Ltd and Global Victoria Pty Ltd.
